If you have always wanted to live in a tropical paradise by the seaside or be its citizen, the time has come! Grenada is a great Caribbean destination where you can obtain a second passport really quickly without investing any exorbitant amounts. A Plan B is a must in the present-day world that is shaken by conflicts more and more, and nothing can be better than having an opportunity to hide on an island lost in the sea to wait for the hard times to pass. In simple words, if you want to add more safety to your life, welcome to the stunning Grenada!
Any large project starts with collecting information. You can read about Grenada and other citizenship-by-investment programs available in more detail on our portal. We have a considerable stock of articles written by experts who know all the ins and outs of acquiring citizenship, starting a business in a new country, opening a foreign account, and much more! You can book an initial session with our specialist to discuss your needs and preferences and find out the best options tailored to your case –and this is a service we provide for free! And if you want to leave the art of jumping through all the administrative hoops to us, we will help you get a second passport while staying at home at a reasonable fee.
Grenada Investment Passport: Am I Eligible?
Here are the main requirements that are easy to comply with:
- You are at least 18 years of age
- Your criminal record is clean
- Your health is quite good (you have no infectious diseases, while chronic diseases are not a problem)
- You have sufficient income from legal sources
What Dependents Can Be Included in the Application?
Here are the persons who can receive economic passports along with you:
- Main applicant’s (spouse’s) parents or adoptive children under 30
- Main applicant’s (spouse’s) parents or adoptive children of any age with a serious mental or physical condition
- Main applicant’s (spouse’s) grandparents
- Main applicant’s (spouse’s) siblings aged 18 and more if they are not married and have no children (a unique feature of Grenada’s program!)
Previous Visa Refusal
What happens if the main applicant was previously turned down when applying for a visa to another country? Well, if this is a Schengen state, the UK, or any other country where you can enter visa-free with a passport of Grenada, you will not be able to participate in the citizenship-by-investment program until you have successfully obtained the visa in question.
Previous CBI Program Refusal
There are five Caribbean countries that offer a citizenship-by-investment program, and they exchange information about rejected applicants among themselves. That is, if you applied for a second passport in St. Kitts and Nevis, Antigua and Barbuda, St. Lucia, or Dominica, and you were turned down, you will not be able to obtain Grenadian citizenship.
Can I Get my Passport Remotely?
Yes, you can! Get in touch with our experts, and we will tell you how to submit documents remotely. If you are approved, the passport will be delivered to you by courier, and you will have the right to visit your new home at any time you want and stay there as much as you want.
How Strong is the Grenadian Passport?
If you have a passport of Grenada, you will have access to 143 countries without a visa, including China, Singapore, Hong Kong, and EU states. If you need a US E2 visa (also known as an investor’s visa), you will have the right to obtain it without much hassle.
How Long Does the Process Take?
If everything goes as planned, you will obtain your Grenadian passport within three to six months from the date you submit all the required documents. However, if the local authorities have some additional questions to ask you, the process may last longer.
What About Taxation in Grenada?
Like all the Caribbean states, Grenada is a low-tax jurisdiction. You will not have to pay capital gains or wealth tax. As for the income tax, you are only liable for it if you generate profit from local sources. In other words, you are exempted from personal income tax if all the profits you get come from outside Grenada. However, you need to become a tax resident of Grenada to benefit from its low taxes, which will require you to live on the island for at least 183 days a year.
How Much Do I Need to Invest?
If you make a non-refundable contribution, it equals 150,000 US dollars. However, there is a refundable option: you will need to invest 350,000 US dollars in a development project approved by the local authorities. Additional payments include an application processing fee, a security check fee, and an agent fee. If you add dependents to your application, the amounts will be slightly higher. Please contact our specialists to find out the exact amount in your case.
What is the Best Real Estate to Invest In?
Well, you cannot buy any real property you like to qualify for the program. The objects you can purchase are officially approved, and their list is available on the governmental website. However, the good news is that our specialists regularly visit all the facilities and can provide a shortlist of the best ones for you to choose from.
Can I Submit an Application Independently?
No, you cannot. The local authorities do not work directly with individuals: you will have to hire an authorized agent to submit the documents. If it sounds complicated, don’t worry: we have reliable agents on-site for our customers.
Will I Need to Extend my Passport?
The passport of Grenada is issued for 5 years, after which you should get a new one. Fortunately, the procedure is quick and straightforward and will not require much effort on your part.
Do I Need Police Reports for All Dependents?
Yes, you do, except for the children under 16. You will need a police report from each country where you lived for at least one year in the previous decade, and it should not be older than 6 months. If the document is made electronically and does not bear an official’s physical signature, it should be notarized prior to submission.
Interested in the Grenadian passport? Click on the above link to discuss the details!